YPF’s Profits Tumble; Venezuela Hikes Minimum Wage By 1,218%

A roundup of Friday’s news from across Latin America

Bloomberg Línea
March 05, 2022 | 12:30 AM

Bloomberg Línea — Argentine energy and oil company YPF, in which the state is the majority shareholder, recorded net profits of $247 million in the fourth quarter of last year, a figure 54.2% below the same period of 2020.

The minimum wage in Venezuela has taken a surprise leap after President Nicolás Maduro announced a 1,218% increase, establishing the base income for workers and pensioners at half a petro, the cryptocurrency introduced in 2018, and which is an equivalent daily wage of $29.

On the region’s stock markets, Chile’s IPSA (IPSA index and the S&P BVL Peru (SPBLPGPT) were the two best performers in Latin America. Argentina’s Merval (MERVAL) had the worst performance in the region, one day after the government announced an agreement with the International Monetary Fund.

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Mexico’s S&P BMV/IPC (MEXBOL) ended the session down 0.38%, while Brazil’s Ibovespa (IBOV), the main index of the largest stock exchange by market capitalization in Latin America, lost 0.60%.

Following is a roundup of Friday’s news from Bloomberg Línea and Bloomberg reporters across Latin America.

Argentina:

Brazil:

Chile:

Colombia:

Costa Rica:

Ecuador:

Mexico:

Peru:

Uruguay:

Venezuela:

This is how the region’s markets closed on Friday, March 4: